Fighting the Gusher, Halting Oil Exploration, Apple Claims the Throne, Lehman Takes on JP Morgan

The headlines you need this morning.

Frantically fighting the flow: BP on Wednesday began its effort to plug the gushing oil well 5,000 feet under the Gulf of Mexico. But we won’t know until sometime today whether the operation actually works. (New York Daily News)

Alaska oil exploration suspended: With the Gulf of Mexico disaster looming, Secretary of the Interior Ken Salazar will halt permits for new drilling in the Beaufort and Chukchi seas off Alaska’s coast. (Los Angeles Times)

Who’s the biggest of them all: Apple has passed Microsoft as the nation’s largest tech company. (New York Times)

Insider idiocy: A Walt Disney assistant and her boyfriend were stopped in their tracks by feds as they tried to sell inside information on the company. (Wall Street Journal)

Lehman sues JP Morgan: As Lehman slid toward bankruptcy, JP Morgan siphoned off billions, Lehman alleges in a new suit. (BBC)

Credit unions take aim at caps: In a move that could have implications for small business lending, credit unions are pushing to raise a cap on their ability to lend.(Wall Street Journal)

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